ISEQ endures testing start to the week
The ISEQ slipped back from recent gains in the opening day of trading today as shares slipped 34.44 to 6,402.83.
Financial stocks suffered today. Shares in Allied Irish Bank plummeted 29c to €17.21.
Bank of Ireland shares fell 6c to €12.89. Bank of Ireland reached agreement with workers today on a redundancy deal for 2,100 staff due to leave the financial institution under cost-cutting measures.
After intensive negotiations, the bank confirmed it had accepted the recommendations of the Labour Relations Commission’s Kieran Mulvey.
Anglo Irish Bank shares slipped 12c to €9.76 while Irish Life & Permanent shares fell 5c to €13.95.
Elsewhere shares in Ryanair dropped 11c to €6.33. The high price of oil - the cost of a barrel of US light crude oil soared above $59 in New York - hit oil-dependent stocks like Ryanair worldwide.
There was better news for construction group Kingspan, which climbed 30c to €9.75.
Other shares on the rise today included bookmaker Paddy Power, up 20c to €14.30, and pharmaceutical group Elan, up 14c to €5.69.
The most traded shares today were CRH, AIB, Bank of Ireland, Anglo Irish Bank and Grafton.
